"Startup Act 2.0 would provide Wichita's entrepreneurs with the tools they need to pursue their ideas, acquire capital, access talent, and grow their companies."
Jun 29 2012
WASHINGTON, D.C. – The Wichita Metro Chamber of Commerce today announced its endorsement of Startup Act 2.0, bipartisan legislation authored by U.S. Senator Jerry Moran (R-Kan.) that picks up where the JOBS Act left off by doing more to jumpstart the economy through the creation and growth of new businesses. The companion bill to Startup Act 2.0 was introduced in the U.S. House of Representatives by Kevin Yoder (R-Kan.).
“The Wichita Chamber of Commerce is proud to endorse Startup Act 2.0, Sen. Jerry Moran’s bipartisan plan to strengthen the economy and create jobs for Americans,” said Walt Berry, Chairman of the Wichita Metro Chamber of Commerce. “We recognize that entrepreneurs are a significant economic driver in our community, and Startup Act 2.0 would provide Wichita’s entrepreneurs with the tools they need to pursue their ideas, acquire capital, access talent, and grow their companies. We hope Congress will act quickly to pass this important jobs bill."
Startup Act 2.0 will create jobs for Americans by unleashing the power of entrepreneurs. Research shows that for close to three decades, companies less than five years old have created almost all of the net new jobs in America – averaging about 3 million jobs each year. Additionally, more than a quarter of technology and engineering companies started in the United States from 1995 to 2005 had at least one key founder who was foreign-born. These companies produced $52 billion in sales and employed 450,000 workers in 2005.
Startup Act 2.0 would make changes to the tax code to encourage investment in startup companies. The bill would also alleviate regulatory burdens that make it more difficult for businesses to expand and create jobs. Finally, Startup Act 2.0 creates new opportunities for American-educated and entrepreneurial legal immigrants to remain in the United States where their talent and ideas can fuel economic growth and create jobs for Americans.
Many of the principles included in Startup Act 2.0 are based on research and analysis published by the Ewing Marion Kauffman Foundation. Startup Act 2.0 has also been endorsed by Google, CEA, TechAmerica, Financial Services Forum, the National Small Business Association, CONNECT, CTIA, Computer and Communications Industry Association, ITI, Engine Advocacy, Compete America, Angel Capital Association, CompTIA, Northern Virginia Technology Council, Silicon Valley Leadership Group, TechNet, the Greater Kansas City Chamber of Commerce, and the Austin Chamber of Commerce.
Click here to learn more about Startup Act 2.0 and its provisions.
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